Energy Fuels Inc. (NYSE American: UUUU) has achieved a significant milestone in its acquisition of Australian Strategic Materials Limited (ASX: ASM).
ASM securityholders have overwhelmingly approved the transaction at the Scheme Meetings held in Perth, Australia on August 12, 2026.
The acquisition will be executed through EFR Critical Materials Pty Ltd, a wholly owned subsidiary of Energy Fuels, under schemes of arrangement as per Australia's Corporations Act 2001.
The completion of the schemes, which will see the Scheme Consideration provided to ASM securityholders, is anticipated to occur on August 28, 2026.
Energy Fuels is a leading U.S. producer of uranium, rare earth elements, and other critical minerals.
Ross Bhappu, President and Chief Executive Officer of Energy Fuels, said,"Today's vote marks an important milestone for Energy Fuels, with ASM shareholders set to join a strong, well-capitalised business with a clear growth strategy. ASM's rare earth metals and alloy-making capacity is a critical addition to our platform as we work to build what we believe will be the West's only integrated mine-to-magnet rare earth business."